Mubasher: Muscat Gases said Sunday that its earnings for the second quarter of 2016 declined by 50% year-on-year to OMR 200,540 ($515,600) from OMR 404,420 ($1.04 million), according to a bourse filing.

On a six-month basis, the company earned OMR 493,700 in the first six months of 2016, down 33.3% year-over-year from OMR 740,600.

In the first quarter of the present fiscal year, the company’s profits fell 12.8 year-on-year to OMR 293,160 from OMR 336,130.